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I am looking for some historic real estate market data such as price/sqf, sales volumes, housing stock, # of days in the market, etc. I would like to go back 10-20 years and would prefer to have it broken down for each town.
Bump. I am guessing such info is not available, at least for free? I'd like to do a little analysis. Based on my limited research, Seems like valuations are creeping up close to pre-crash levels. Additionally, seems like ~$500K is not an ideal price point for towns with train access in Bergen county, as there isn't much supply of good homes, but the demand is too high and everything, including a lot of junk, is being bid up.
Based on your previous posts, it seems that your budget is unrealistic for the type of house you want in the type of town where you want to live. It's ridiculous, I agree 1000%, but $500,000 is not going to get you a turn-key house in towns with train access and nice downtowns, like Ridgewood or Glen Rock.
This area has always been expensive. Starting sometime around the mid-80s, it started to get even more expensive, and in the 90s, the 2%ers priced out of NYC and Westchester County started coming into Northern NJ, sending prices into the stratosphere. Prices are certainly down from their peak, but nowhere near enough to make up for the insane price increases that took hold for the twenty years prior to that, and that goes triple for the nicer towns, which never really suffered a whole lot from the "crash".
As someone starting to look for a house myself in the area (with a lower budget than you have, OP), I feel your pain. And I wish we could just kick out all the "interlopers" who have driven up the prices and property taxes into zillionaire territory in the county where I have lived since 1975.
But we can't. So we have to do the best we can with what we got. You're gonna have to compromise somewhere.
I am not looking for a turn key home, but I also don't want to pay $500k for 1200 sq f shack that's going to require another $100k to make it livable. Therefore, I am adjusting my expectations. Clearing, I am priced out of Ridgewood, GR and the rest of the towns to the north on that train line. Instead, we have been looking at towns on the Pascack lane, like Emerson, Westwood, Hillsdale, Woodcliff lake, and to a lesser degree Oradell and River Edge. It seems like that in Hillsdale and Westwood $500K is not going to get you far, either, as too many people that are priced out of Ridgewood, GL, etc are looking at those towns as an alternative.
I am even starting to consider buying something for around $300-350K and dumping another $200K or so in enlarging/remodeling it.
I am not looking for a turn key home, but I also don't want to pay $500k for 1200 sq f shack that's going to require another $100k to make it livable. Therefore, I am adjusting my expectations. Clearing, I am priced out of Ridgewood, GR and the rest of the towns to the north on that train line. Instead, we have been looking at towns on the Pascack lane, like Emerson, Westwood, Hillsdale, Woodcliff lake, and to a lesser degree Oradell and River Edge. It seems like that in Hillsdale and Westwood $500K is not going to get you far, either, as too many people that are priced out of Ridgewood, GL, etc are looking at those towns as an alternative.
I am even starting to consider buying something for around $300-350K and dumping another $200K or so in enlarging/remodeling it.
The Pascack Valley towns aren't much cheaper. With a lot of searching and work, you may be able to get something livable (livable, not turn-key) in Emerson, River Edge, or Westwood. Forget about it in the other towns.
The public doesn't have access to that data. The data I have access to through the MLS doesn't go back 20 years.
House values are still down in most towns in Bergen County since the height of the market in 2008 and I don't think we are going to hit them anytime soon. I see a market correction coming in the near future.
The public doesn't have access to that data. The data I have access to through the MLS doesn't go back 20 years.
House values are still down in most towns in Bergen County since the height of the market in 2008 and I don't think we are going to hit them anytime soon. I see a market correction coming in the near future.
Just curious, when you say a "correction", do you think prices are going to come down from where they are now?
I'd suggest asking this the question on that blog as the people on it live and breath nj real estate. The blog author was featured twice in The New York Times.
Last edited by Goldendoodle1969; 07-18-2016 at 07:00 AM..
Just curious, when you say a "correction", do you think prices are going to come down from where they are now?
In certain towns, yes I think values will come down. As little inventory as is there is available, prices are flat in many towns in Bergen County. I'm seeing new constructions/total renovations in towns like Bergenfield, Dumont, New Milford, etc that are over improvements and 'best houses on the block' that buyers are over paying for. Honestly, I don't even know how they are appraising unless the buyers are paying all cash.
The public doesn't have access to that data. The data I have access to through the MLS doesn't go back 20 years.
House values are still down in most towns in Bergen County since the height of the market in 2008 and I don't think we are going to hit them anytime soon. I see a market correction coming in the near future.
Thanks Kevin. Why wouldn't towns/counties share this info, even for a fee?
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